Government Funding Grants for Small Businesses

Programme Snapshot is a funding grant provided by the government for small businesses. The grant varies between applications, but is usually somewhere between £1,500 and £500,000. This money does not have to be paid back and it can be spent in whatever way has been specified in the grant. The government recognises it is incredibly hard for small businesses to being new products out on to the market, which is why they provide hundreds of these funding grants each year to assist small businesses and help them grow.

The reason why these particular funding grants fluctuate so much is because the government is aware that certain businesses in certain areas, operating under certain regulations, require more help than others. Another bonus to this particular funding scheme is once your business qualifies for this grant, they are more likely to receive funding grants when needed in the future.

A Conditional Repayable Contribution grant is when a small business is required to pay back all or part of their funding if their business proves to be successful. These particular funding grants range between £10,000 and £500,000. The grants are similar to an unsecured loan except they are not always repayable in full. Interest can be charged on the funding grants but it is usually minimal. The beauty of this type of grant is a small business gets all the benefits of having a major investor in their business, with absolutely no associated risks. The government will only expect full or partial repayment of the funding grants if they are absolutely convinced the business can afford to make the payment.

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